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Social Media Best Practices

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Offline Meets Online, How to Use Your Social Networking Skills in Real Life Situations

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As much as business connections have moved online with the advent of LinkedIn, Twitter and Facebook, “Face to Face” is still King when making new connections. But how do you leverage both in this Web 2.0 world? In this post I will examine best practices.

Recently over drinks I was chatting with a seasoned salesperson who eloquently informed me that “It’s never been so easy, yet so hard to do business”. The environment we’re in has created a double-edged sword. Through digital technology (blogs, social networks and websites) it’s never been easier to understand who our customers are and what they need. However, this has resulted in the bar being raised with customers who are more demanding, impolite and curt than ever before.

But as much as things are changing at a rapid pace, networking events are still very relevant. They may have evolved, but have not completely changed in that they continue to be noisy, crowded and full of libations.  So how do you make the most of them?

1-    Before the event

With many events powered by MeetUp, Eventbrite and Facebook it has become easier to see who will be attending. Not only does this give you validation as to whether it’s worthwhile, but also provides you with great insights as to whom you need to be in contact with. Use social networks to secure information on who they are.

 

2-    During the event

For most, meeting new people is one of life’s daunting challenges. If there’s someone who I find important that I might not know, I like to use my smartphone apps to locate their LinkedIn Profile. To dive deeper as to what they’re thinking I use Google Search to discover what they’re saying on Twitter (Google provides better results on finding the person than Twitter itself). Think this is intrusive? Within a few years facial recognition technology will allow you take a picture of a person and bring up their entire social graph.

The good news is that age-old rules still apply when making a new acquaintance.  A couple of points I find that work for me are:

A-    When the moment presents itself (do not interrupt an ongoing conversation), introduce yourself with what’s known as an  “Open Face”. This can be described as the warm feeling you get when you see a baby or puppy for the 1st time; pass that happiness on to the other person.  Smile, but be natural.

B-    If possible, shake that person’s hand and introduce yourself. Say something nice about them or their company, but be genuine.

C-    Be generally interested in what that person has to say and add value.

D-   When speaking about your own business, convey a one or two sentence value proposition that will instantly make that person understand what you do.

E-    Don’t talk at length about your business. Talk about their business or topic of importance to them.  Remember, that everyone wants to feel important and special.

F-    Don’t overstay your welcome. If that prospect is the decision maker, ask for a business card and leave with value; offer to do something for that person (send a case study or client example)

 

3-    After the event

For prospects you find want to build a business relationship with, your follow-up is key.  If you want to really stand out, a personal handwritten note will wow any executive, but a brief e-mail that is followed by a LinkedIn invite or Twitter follow is customary these days. Think of the e-mail like an actual handwritten note; but keep it short, sweet and to the point. Mention how you met, what you discussed, attach follow-up items (articles or case studies) and outline next steps. If you feel your impression was strong enough, by all means and ask for a follow-up meeting.  These executives are inundated with e-mails all day long, so make sure you have a strong subject line. I like to cite my own name as well as the value I’m offering in the e-mail “Derek Reese from XYZ, Case Study on Small Business”. Avoid terms like “Hi, Opportunity and Savings” because these are triggers for your e-mail to wind up in their spam folder.

If you think this company is a strong target, you might want to set up an RSS feed from their news page or Google alert, these will give you key insights into changes in the company.

Most importantly! Add value when you communicate in the future.

If you have any direct questions, please feel free to contact me on LinkedIn or follow me on Twitter.

Written by Derek Reese

July 28, 2011 at 1:22 pm

Iceland the Cashless Society

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I’ve been seeing lots of chatter regarding virtual currencies, location based social media incentives and monetizing your network, but what if we really went cashless as society? What would this mean and how would we do it? In spending time in Iceland, I see their model as one to emulate.

In one week in Iceland, I’ve found it unnecessary to complete a currency exchange credit cards (visa/mastercard, not American Express) is accepted everywhere. Here’s some of the more unique places

  • A fellow traveler I met in the hostel paid his speeding ticket (it’s 245 Euro should you be interested) on the spot
  • Chewing gun at a gas station
  • Daytrip hike

Here’s why it works in Iceland

  • NO transaction charges paid by consumer
  • Portable credit card machine for quick transactions
  • Most transactions as debit in nature
  • Iceland has the technology advances to support this (most digital country in Europe)

This has me thinking about why United States would emulate such a program

Benefits

  • Eliminate the need for the Treasury to print costly bills/coins
  • Allow for the government to collect tax revenue in real time
  • Give people the power to truly see their spending habits

Iceland is a highly educated (30% of the population have college degrees), forward thinking nation with a small population (b/w 280K to 320K). What works there won’t work in the US, but I do feel we can implement this

Challenge #1

Retailers will balk at paying transaction fees for low profit items such as a stick of gum

Solution: Set a min price where visa/mastercard/amex can start charging transaction fees such as $25. Credit card companies are incentived to get their customers to use their cards more, the logic being if they’re using a Capital One Visa card for a stick of gum they might for a new bedroom set

Challenge #2

Americans have far too much credit card debt.

Solution: Encourage consumers to use debit cards and offer realtime balance information before and after they make a transaction. Put limits on how much they can charge. Do not allow overdrafts.

Opportunity

With Smart Phone penetration approaching 50%, why night eliminate bulky credit cards and offer the use of cell phones to make transactions. Why not have visa/mastercard/bank apps that allow consumers to make purchases directly. This if environmentally friendly since instead of print paper, transaction information is processed directly in the phone. Social media companies/retailers benefit because consumers can instantly choose to share their purchases with their network.

These are just a few of my thoughts


Written by Derek Reese

June 5, 2010 at 3:41 pm

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